Euro RSCG Discovery Study Finds Gender, Brand Loyalty and Economic Recession Influence...
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Euro RSCG Discovery Study Finds Gender, Brand Loyalty and Economic Recession Influence Teen and Young Adult Consumer Behavior Females More Likely to Engage in Money-Saving Activities; Males Increasingly Likely to Base Purchases on Brand Relationships CHICAGO and MINEOLA, N.Y., April 29 /PRNewswire/ -- Euro RSCG Discovery, the North American data analytics, CRM and behavioral marketing agency network of Euro RSCG Worldwide, today announced a new study of teen and young adult consumers, ages 13 to 21, found that consumer behavior among females in this age group has shifted more than that of males in the economic recession. The study also found brand loyalty is increasingly important among this age group, as a majority of teenagers and young adults (73%) shop at a set group of stores. "There is an immense opportunity for gender-specific behavioral marketing that will engage teens and young adults in this recession, especially when it targets those that spend their own money," said Zain Raj, CEO of Euro RSCG Discovery and Global Practice Leader, Retail Brands of Euro RSCG Worldwide. "Although the economy is impacting teen consumers, and particularly young women, loyalty patterns indicate that marketers stand to benefit most from advertising brand value and finding new ways to become part of this age group's brand rituals." According to the survey, female teens and young adults are more worried about the economy (92% v. 87%) and are more likely to engage in money-saving activities (41% v. 35%) than males. Compared to one year ago, nearly half of females in this age group are looking for sales (48%) and staying home (51%) more often, compared to fewer than 43% of males in both categories. The males surveyed were more likely to report not being affected by the economic slowdown (15% v. 7%) and that the relationships they have with the stores they shop at have grown stronger over the last year. In fact, significantly more males than females always (6% v. 3%) or usually (26% v. 17%) buy brand name clothing at full retail price. Almost half (48%) of the males polled buy high-end brands just as often, and nearly one-third (29%) spend money on entertainment more often. However, males are more likely to shop for one item at a time (42% v. 33%) and to think of clothing as seasonal (19% v. 13%). They are also far less likely to seek information from media, catalogs and the Web for their purchase decisions. "Now more than ever, it is important for brands to capitalize on the relationships they have with this younger audience," said Raj. "While young consumers are becoming more conscientious about their purchases, they still return to the stores and brands they are familiar with when it comes time to buy." The survey revealed the best opportunity to target the younger generation of consumers is in stores, despite a high proliferation of internet and social network use among this age group. The study found that more than 70% of teenagers and young adults research and make purchases in stores. In addition, stores were the most prominent source of fashion purchase information, compared to word of mouth (53%), catalogs (37%), magazines (23%), online (20%) and TV (17%). The study, based on an online survey of 1000 teens aged 13 to 21, was conducted in partnership with American Student List, the nation's leading provider of student and youth marketing data and part of the Euro RSCG Discovery network. Data was weighted to be geographically representative. About Euro RSCG Discovery Euro RSCG Discovery is the North American data analytics, CRM and behavioral marketing agency network of Euro RSCG Worldwide. The agency combines research -- behavioral, attitudinal and lifestyle data -- to develop actionable insights that help clients build loyalty, increase share, and create personal connections to their brands. Clients including Diageo, IBM, Liberty Mutual, Sprint and Volkswagen have all used Euro RSCG Discovery's tools to predict consumer behavior and gain greater financial rewards. The agency has offices in Chicago, Illinois; Baltimore, Maryland; Mineola, New York; Richmond, Virginia; and Wilton, Connecticut. For more information, please visit www.eurorscgdiscovery.com. SOURCE Euro RSCG Worldwide Ashley Stewart, +1-212-966-6586, astewart@powellny.com
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